Robert Johnson, executive director, Institute for New Economic Thinking (INET) explains to CNBC-TV18 that the challenges for Obama remain the same in his second Presidential term. Johnson adds that the government could lower healthcare costs, by diminishing the impact of pharmaceutical and hospitalisation lobbies, to address the fiscal challenges.
Evaluating the impact of the LIBOR scandal, Robert Johnson, Executive Director, INET said that this episode is building resentment towards large complex financial institutions that were bailed out or turning countries in Europe inside out to avoid taking write downs on the loans they made.
Robert Johnson, the executive director of the Institute for New Economic Thinking, in an interview with CNBC-TV18's Menaka Doshi discusses the Greece situation and the possibilities of a spillover in peripheral Europe.
"Germany is like an insurance company that doesn’t want to pay after an accident," said Robert Johnson, ED, Institute for New Economic Thinking. When Germany joined Europe they were supportive of Europe but now are trying to get off the hook, he added.